Page 84 - WEF Reoprt 2020

could lead to rewards and incentives for
people to live healthier lifestyles, but if
unchecked by regulation, it could also
potentially put insurance beyond the reach of
people judged to be higher risk for genetic,
environmental or behavioural reasons.

In some jurisdictions, steps have already
been taken to mitigate this risk in response
to the concerns of people who have taken
predictive genetic tests for certain diseases.
In 2018, the UK Government, together with
the Association of British Insurers (ABI),
consolidated existing agreements on the use
of genetic information and created the Code
on Genetic Testing and Insurance. Given
the rapid advances taking place in genetic
research, this Code will be reviewed every
three years to consider the technical, ethical
and societal implications of insurability.
Among other principles, the Code commits
insurance companies to treat applicants for
insurance fairly and not require or pressure
REUTERS/YVES HERMAN/ILLUSTRATION any applicant to undertake a predictive or
diagnostic genetic test. 47
million-dollar drugs are expected to enter
the market, mostly for cancer. New pricing
46
models—such as multi-year payments Ubiquitous risks of a weak
contingent on patient outcomes—are starting health system
to emerge to address the high costs and risks
of these treatments. Good health is the foundation for societal
well-being and a dynamic and prosperous
But health systems are finding it difficult to economy. Health systems form part of
48
adapt amid questions over who should pay, countries’ critical infrastructure: they are
how high a price can be justified, and what vital to security, resilience and growth.
can be given up to afford new therapies. As At the population level, health underpins
people’s expectations rise, unequal access productivity. Well-functioning health systems
to better therapies could deepen health enable countries to respond to, and recover
inequalities within and across countries, from, natural and human-made disruptions.
eroding trust in health systems and societal Weak systems let pathogens and diseases
cohesion. In the longer run, if (or when) spread because they fail to address fake
gene-editing technologies become available news about healthcare and preventive
to enhance physical, cognitive or behavioural care, psychological responses of fear and
capabilities, these could result in a society of despair, and lack of compliance with health
genetically enhanced haves and the merely professionals’ requests. 49
natural have-nots.
Like climate change, health risks pose an
Risk pools of one. Health insurance looks expensive and expanding transnational
set to be transformed by big data and challenge. Around the world, health systems
analytics. As with in-car devices used by car need to take a critical look at the fitness of their
insurers to reward responsible drivers with current approaches and institutions if we are to
lower premiums, health insurers can (with the maintain the progress of the last century and
consent of customers and the appropriate tackle emerging threats. When health systems
levels of data security), capture, store and fail to mitigate vulnerabilities and adapt to
analyse personal health and behavioural data changing contexts, they increase the likelihood
from wearable—and eventually implantable— of economic crises, political instability, social
devices. Personalized risk assessment ruptures and state-on-state conflict.

The Global Risks Report 2020 79